New Real Estate Behemoth: Zillow Buys Trulia for $3.5B
All-stock deal may drastically affect real estate agents' livelihood
By Jenn Gidman, Newser Staff
Posted Jul 28, 2014 9:39 AM CDT
Zillow has purchased Trulia in a $3.5 billion all-stock deal.   (Shutterstock)

(Newser) – Apparently, we're starting the workweek with competitors eating each other for breakfast. First Dollar Tree announced it would be buying rival Family Dollar, and now real estate heavyweight Zillow is snatching up competitor Trulia for a hefty $3.5 billion, reports the AP. The all-stock deal will result in a behemoth online real estate company that will retain both brands, with Trulia CEO Pete Flint reporting directly to Zillow CEO Spencer Rascoff. One group likely to be less than thrilled: real estate agents and multiple-listings services that used to have a stranglehold on much-coveted real estate info, reports the Wall Street Journal. The sale is expected to be finalized in 2015 after shareholder approval and an antitrust waiting period, according to Yahoo Finance.

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Jul 29, 2014 12:47 AM CDT
Well, I can't help but wonder how my house will be valued by Zillow, since Trulia typically places the value much higher. Zillow, in my view, under-values properties in my zipcode, Trulia over-values them a bit, and RealtyTrac seems most realistic. I also wonder what kind of "information" Zillow uses, and where they get it. My house dropped over $3000.00 dollars in value in the last 30 days (according to Zillow) which I don't think reflects reality at all. Neither RealtyTrac or Trulia made any adjustment to the value of my home in the last several months.
Jul 28, 2014 10:40 AM CDT
It's still amazing to me that there's no real MLS that covers *all* the realtors. Buyers still have to look on multiple sites because the MLS sites are aligned with brokers and want to push their properties to the top of the searches. I expect this consolidation to be a non-solution to the problem.
Jul 28, 2014 9:46 AM CDT
I have used Trulia twice now to find a home while relocating and have loved it, so I hope they don't change it too much (I just find it more user friendly than Zillow).